Doosan buys stake in dealer

Doosan has taken its first steps into direct sales by acquiring a majority stake in one of its top performing dealers, Genesis Forklift Trucks.

The move signals the company's intention to build on recent investments in both expanding its product range and establishing its UK parts distribution centre.

Founded in 2001, Huntingdonbased Genesis is already a leading light in the Doosan network, regularly challenging for Doosan UK's top dealer status over the past five years.

The founding members will be staying on as directors, DIUK's general manager, Tim Waples will take over as Chairman assisting with the next stage in the business's development.

Waples says: "This is the most significant investment in the UK since the business was established.

We are continuing to grow Doosan's presence and see this as the perfect platform to bring us closer to our customers and make us even more competitive in the UK market.

"We have been particularly impressed with what Genesis has done for us over the years as a Doosan dealer and believe this investment will be beneficial for all parties. As well as help improving IT systems and buying power, we believe both companies will benefit from Doosan's influence and management skills." With the new Doosan funds being ear-marked for an expansion into Norfolk and other currently vacant territories around the UK, several new staff members across sales and service will be employed.